Once you have successfully added your address, you can then setup an address monitor by editing the address options. Thereafter, every time you receive any Counterparty related assets you will receive a notification email with the transaction details sent to you automatically by the system.

The service is offered at no cost to the community. The only thing Blockscan.com asks for is that it not abused (i.e setting up monitoring for thousands of address).

set up address monitor using any 3rd party bitcoin utility or bitcoin wallet. In this case a bitcoin utility would detect BTC transactions, so that would work fine. But because all Counterparty transactions are also Bitcoin transactions, you'd receive notifications for Counterparty transactions, but to see what actually happened in terms of Counterparty assets/tokens involved, you'd have to check your wallet or the blockscan link above.

Example for end users - check your wallet features. By the way, Indiesquare Wallet (for Counterparty) implements notifications for both BTC and Counterparty if coins are sent by another Indiesquare Wallet user.